GeneDx Holdings Corp. · NASDAQ:WGS
GeneDx — Sema4 — Q1 2022 Earnings Presentation
16 slides from GeneDx's earnings presentation, May 2022
Slide 1: Q1 2022 Earnings Presentation
Q1 2022 Earnings Presentation May 2022
Slide 2: Disclaimer
Disclaimer This presentation contains forward-looking statements under the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are statements that do not relate to historical facts and events and such statements and opinions pertaining to the future that, for
Slide 3: Recent Business Highlights
Recent Business Highlights 1Q 20221 revenue growth of 4%2 1Q 20221 resulted volume growth of 27%2 Closed GeneDx acquisition and $200M PIPE3 from leading investors, including Pfizer Streamlined leadership team to enable focused execution and to drive growth Reaffirming 2022 revenue guidance of $305-3
Slide 4: Path to Profitability
Path to Profitability • Market leading franchises in Women’s Health & Rare Disease Growth at Scale1 • On track to result 450K+ tests in 2022 • Committed to $50M+ reduction in 2022 cash burn Operating Efficiency • Significant ASP/margin opportunities via revenue cycle and lab efficiency • Cash runway
Slide 5: Strong Start to 2022
Strong Start to 2022 1Q Resulted Volume 1Q Total Revenue 1Q Balance Sheet Resulted ~85,000 tests $54M $315M in cash & excluding COVID-19 in total revenue equivalents as of 3/31/22 +27% yoy and +2% qoq +4% yoy (excluding COVID-19 +$125M undrawn revolver testing)1 = $440M total liquidity 1 1Q22 Revenu
Slide 6: Significant Improvement in Adjusted Gross Margin
Significant Improvement in Adjusted Gross Margin1 50%+ by 20253 2 1 Adjusted Gross Profit (Loss) is a non-GAAP measure within cost of services. Refer to Appendix for non-GAAP Reconciliation 2 4Q 22E reflects the company’s guidance of 30% gross margin in 4Q 2022E 6 3 Represents the company’s long ran
Slide 7: Q1 GAAP Financial Highlights
Q1 GAAP Financial Highlights 1Q 20221 – Financial Highlights 1Q 20221 – Revenue Mix USD Millions % Revenue 1Q 2022 1Q 2021 Total Revenue $53.9 $64.2 Diagnostic Testing Revenue $50.1 $48.3 COVID Testing (ex-COVID testing) Gross Profit (Loss) $5.6 ($4.3) Other Gross Margin 10% (7%) GAAP Net Income ($7
Slide 8: Q1 Non-GAAP Financial Highlights
Q1 Non-GAAP Financial Highlights 1Q 20221 – Financial Highlights 1Q 20221 – Revenue Mix USD Millions % Revenue 1Q 2022 1Q 2021 Adjusted Gross $7.1 $14.2 Diagnostic Testing Profit2 COVID Testing Adjusted Gross 13% 22% Margin3 Other Total Adjusted ($58.9) ($24.8) EBITDA4 1 3 months ended 3/31/22 2 Adj
Slide 9: 2022 Guidance (now includes GeneDx for eight months)
2022 Guidance (now includes GeneDx for eight months) Resulted Volume1 Revenue Adj. Gross Margin4 Year End Cash 55%+ $305–315M 20%+ Adjusted gross$200M+ margin to growth YoY total revenue2 gross margin for exceed 10% 2022 Sequential reduction in cash burn throughout Includes 8 months from Implies 450
Slide 10: Our Financial Profile Exiting 2022
Our Financial Profile Exiting 2022 1 $350 million pro forma revenue includes revenue generated by GeneDx in 2022 prior to Deal Close on April 29th 2 Adjusted Gross Margin is a non-GAAP measure. Refer to Appendix for non-GAAP Reconciliation 10 3 Includes Cash & Equivalents, does not include drawing o
Slide 11: Thank you
Thank you
Slide 12: Appendix
Appendix
Slide 13: Historical COVID-19 Revenue Mix
Historical COVID-19 Revenue Mix % of Total Revenue1 1Q20 2Q20 3Q20 FY20 1Q21 2Q21 3Q21 4Q21 1Q22 Diagnostic 99% 93% 84% 79% 73% 87% 86% 79% 91% Test COVID 0% 6% 14% 18% 25% 8% 10% 18% 6% Other 1% 1% 2% 2% 2% 4% 4% 3% 3% 13 1 Certain periods do not add to 100% due to rounding
Slide 14: Non-GAAP Gross Margin Reconciliation
Non-GAAP Gross Margin Reconciliation USD in thousands 14
Slide 15: Non-GAAP EBITDA Reconciliation
Non-GAAP EBITDA Reconciliation USD in thousands 15
Slide 16: Sema4 Nasdaq Listed
SMFR Semat Nasdaq Listed sema4